Market News Page No. 144| Africa Business News

Kenya Pipeline Boosts Oil-Storage Capacity By 22% with the Introduction of Tanks

Managing Director Joe Sang said that Kenya Pipeline Co. will spend 5.3 billion shillings ($52 million) building four new tanks that will increase its storage space by more than a fifth. KPC is adding capacity to meet growing demand for fuels in East Africa, the continent’s fastest growing sub-region, according to the African Development Bank. The additional tanks will store increased volume from a new pipeline being built.... Read more »

Posted on : Wednesday , 14th March 2018

Solar Energy to Be Provided To Residents By Busia

Busia County has partnered with RVE.SOL Company to provide reliable and adequate solar-powered electricity to residents. The two parties signed an agreement recently. The company will develop, operate and maintain solar mini-grids and offer high quality renewable and sustainable energy. They will also drill boreholes. RVE.SOL chief executive Vivian Vendeirinho and county community liaison officer Caxton Juma signed the.... Read more »

Posted on : Tuesday , 13th March 2018

Warehouse construction is the next big target

Developers are currently targeting the warehouse industry in Kenya and somehow moving away from the crowded construction of residential, retail and office space. With the construction industry in Kenya witnessing a boom in the residential, retail and office space, developers are currently targeting the warehouse industry as a new avenue to expand. Tilisi Developments Limited Co- CEO Kavit Shah stated in reports that there has been a slow.... Read more »

Posted on : Tuesday , 13th March 2018

East African Cement Manufacturers Eyeing Market in Rwanda

East Africa’s biggest cement companies have collectively turned their attention towards the market in Rwanda. The situation in Rwanda is demanding for more cement after local manufacturers have struggled of late to meet the local demand due to the lack of available raw materials. Rwanda acquires 46 percent of its cement through imports with that number expected to rise substantially in the coming days and months. This has caused a.... Read more »

Posted on : Wednesday , 18th April 2018

Positive Emergence in Africas Gas Sector

Gas discoveries worldwide have outsized oil finds by a ratio of two to one over the past two decades. Led by ‘colossal’ finds in East Africa, Africa’s gas reserves have risen by some two-thirds in recent years. The continent’s proven gas reserves of 503.3 trillion cubic feet (Tcf) at end-2016 (BP data) were mainly concentrated in Algeria, Egypt, and Nigeria – accounting for 92 percent of aggregate. The crown.... Read more »

Posted on : Monday , 12th March 2018

Flying taxis coming soon to Nairobi.

The McFly.aero blockchain project is starting the set up of transportation for air taxis service in 23 cities in 13 countries. Nairobi has been recognized as one of the launch cities for this ambitious flying cars project. This is going to be a 2 part business project, the first part being a technological consortium of 12 companies that are currently developing the fundamentals of the city air taxis, , across the flying cars. This is.... Read more »

Posted on : Friday , 9th March 2018

Private Sector Involved in Attainment of Kenya's UHC Project

The Cabinet Secretary for Health, Sicily Kariuki has met with the Development Partners in Health Kenya (DPHK), the renowned Health donors gathering and has made affirmations about the utilization of the assets accumulated. The CS also said that an internal system for Development Partners Coordination will be put in place in the coming week. She gave thanks to the dedication and hard work of the county governors in spreading the.... Read more »

Posted on : Wednesday , 18th April 2018

Tanzanian Government Dedicate Sh1.9 Billion to Healthcare

The Tanzanian Administration has revealed their plan to funnel another Sh 1.9billion to the healthcare sector in Tanzania, which will be put towards the refurbishment of healthcare facilities in the Nanyamba region, as indicated by Prime Minister, Kasim Majaliwa. An announcement was made by the Premier's communication unit, in the announcement Mr. Majaliwa said that, the move was a part of the endeavors of the government to.... Read more »

Posted on : Wednesday , 18th April 2018

Kenya, A bright destination for investors

Kenya, a land where the world’s wealthiest people have found a new place to hunt for second homes. In a new report by a prime real estate consultancy, Kenya’s capital, Nairobi, as well as its coast and the countryside near Mount Kenya are listed as hotspots While Kenya enjoys a prime spot on the radar of 4% of the global rich looking for a new property, the African ultra-rich count the East African nation among their top five.... Read more »

Posted on : Thursday , 7th June 2018

IFC to Funnel More Funds into Kenyan Healthcare

The International Finance Corporation is actively looking to allocate resources into Kenya's healthcare sector through a Sh11 billion ($107 million) equity fund in Holland. The World Bank's private loaning arm, IFC has committed the Investment Fund for Health in Africa (IFHA II) to the “acquisition and integration of targeted healthcare services businesses in East and Southern Africa.” IFC is supported by a.... Read more »

Posted on : Wednesday , 18th April 2018

Kenya is capable of driving the Safari Rally back onto the WRC, Todt

Todt was received by Kenya Motorsports Federation (KMSF) President Phineas Kimathi upon his arrival on Monday for the 2 days visit. Kenya is competent of driving the Safari Rally back onto the World Rally Championship, says International Automobile Federation (FIA) President, Jean Todt. He further added organizers in Kenya should meet all the guidelines as provided by the FIA. “I am your friend but you must deliver. I would want a good.... Read more »

Posted on : Thursday , 1st March 2018

Asella Malt Receives USD 48.8 Million Offer

A huge bid of USD 48.8 million has been accepted for the Asella Malt Factory after it was made available for purchase by the Ministry of Public Enterprises (MoPE). This move was a part of the present privatization drive ongoing in Ethiopia. The Asella Malt Factory, now joins a list of highest offer companies, following the USD 944 million offer made to acquire the National Tobacco Enterprise (NTE) by Japan Tobacco International and the USD.... Read more »

Posted on : Wednesday , 18th April 2018